The Colombia international has been sidelined since suffering damage to his cruciate knee ligament in a Coupe de France tie against Monts d'Or Azergues in January.
Falcao, 28, was forced to miss his country's World Cup campaign because of the injury but his new Monaco coach confirmed that the striker will make his long-awaited comeback at the pre-season tournament at the Emirates Stadium.
"Falcao will play this weekend," Jardim told reporters. "Not the entire game but at least 15 to 20 minutes on Saturday and perhaps more on Sunday against Arsenal.
"He is anxious to play again. He is close to having recovered 100 per cent of his physical fitness.
"This will be a very good test for him before the resumption of Ligue 1."
Although Falcao has publicly stressed he wants to stay at Monaco, Real Madrid are prepared to sell Angel Di Maria in order to fund a summer bid for the Colombia international.
Monaco begin their Ligue 1 season with a home game against Lorient at the Stade Louis II on Sunday August 10.